Many headlines this week have centered around rising inflation or how our economy is and will continue to be in trouble.
We’ve said it, economists have said it, and even Fed officials have said it…inflation is not transitory.
It’s almost 2022 – two years since the COVID pandemic hit the U.S. Prices are still rising, and experts say they won’t drop soon.
During an interview with CNN, Chief Market Strategist at Jones Trading Mike O’Rourke said, “There’s just as much uncertainty now, today, as there was in March 2020 as the pandemic was unfolding.”
That impacts us now, but what about the future?
Former Kansas City Federal Reserve CEO and President Thomas Hoenig believes that will diminish our nation’s economic growth over time.
On Fox’s Mornings with Maria, he said, “…this kind of inflation is a tax on the consumer, on the public, on businesses. And it’s a regressive tax that will over time undermine the economy and undermine growth. But it will take some time. And I think what the Fed is kind of hoping for — if that’s the right word — is that this will eventually recede. But I think it’s going to be a while before it does. So, I think there’s some real risk for inflation going forward.”
Many retirement-age investors are worried rising inflation will wreak havoc on their investments.
A recent Global Atlantic Financial Group survey found that 71% of people polled believe it will have negative effects on their retirement savings.
The reality is the effects of inflation are getting hard to ignore.
One way to hedge against it is to invest in commodities like gold. We can help with that! Give us a call at (855) 905-5317 for your free, no-obligation, one on one consultation. We’ll answer your questions and help you determine which option is best for you.